We Will be The Torchbearers of Revolutionizing Transactional Space at IFSC: Share India

Prime Minister Narendra Modi has envisaged International Financial Services Centre (IFSC) as a transformational initiative that will encourage foreign capital to participate in India's growth journey and give an impetus to the financial services industry in India. Many companies, both Indian and international are vying to reap maximum benefits of this initiative which comes with tax breaks, regulatory reforms and business incentivization.

One of the companies that is in the fray to realize the potential of IFSC is Share India Securities. "We are among the top 10 brokers in terms of turnover in Indian market. We command large market share that will help us to capture market in quick time. Our expertise of the domain, competitive advantage and management bandwidth are incomparable," Mr. Kamlesh Vadilal Shah, Joint MD, Share India Securities says.

Under the IFSC scheme India's first GIFT City has come up in Gujarat. Government has announced a number of measures to make the proposition lucrative. These include streamlining regulatory approvals through a single International Financial Service Centers Authority (IFSCA), incentivized and simplified tax regime for businesses as well as attractive rebates to Non-resident businessmen.

"GIFT City will act as a trigger for growth. It is planned in a strategic and systematic manner with a lot of commitments to achieve the ultimate goal of making GIFT City the financial hub for South East Asia. A wide variety of global businesses in diversified fields like Capital Markets, Banking, Asset Management, IT Services etc. now have the opportunity to set up their enterprises under one roof. World class infrastructure of GIFT City provides support for seamless working in the global market," Mr. Shah adds.

It is also expected that entities trading through GIFT City will immediately see the value additions in terms of low operating cost, tax benefits, etc for operating their business from IFSC entity in comparison to the cost of setting up shop in foreign countries like Dubai and Singapore.

"We already have a subsidiary at Singapore trading in international markets for the past 2 years and we are present in IFSC through our subsidiary since 2017. We are market makers for both the exchanges at GIFT City India INX and NSE IFSC. Strategies and products are similar to domestic products and added advantage of no STT, stamp duty, GST and lower operating cost will give further impetus to our growth story. Longer trading hours i.e., 22 hours of working will provide us the advantage of getting benefit of all the markets right from Japan to USA," Mr. Shah concludes.